Increases the available monies expended from the Motor Fuel Underground Storage Tank Trust Fund from one million dollars to one million five hundred thousand dollars. (8/1/15) (EN +$575,000 SD EX See Note)
Impact
The legislative modifications contained in SB 244 could significantly influence how environmental risks associated with underground storage tanks are managed. By elevating the funding limits, the bill ensures that the state can more effectively respond to contamination incidents, facilitating quicker cleanup and remediation efforts. This could lead to improved environmental quality and public safety, particularly in communities affected by such contamination.
Summary
Senate Bill 244, known as the Motor Fuel Underground Storage Tank Trust Fund amendment, proposes to increase the financial disbursements allowed from the trust fund from one million dollars to one million five hundred thousand dollars. This change aims to enhance the capacity of the fund to cover necessary actions related to contamination from motor fuel storage, ensuring that the Department of Environmental Quality has robust financial resources to address potential threats to the environment and public health.
Sentiment
The sentiment around SB 244 has been supportive across various stakeholders, particularly among environmental advocates and regulatory agencies. Many see the bill as a necessary upgrade to the existing environmental protection framework, arguing that the increased funding is critical to proactively managing contamination risks. However, a few concerns about potential financial burdens associated with increased disbursements have also been raised, though these appear relatively minor compared to the broad support for enhanced environmental safeguards.
Contention
While there is general agreement on the necessity of the bill, some debate exists regarding the adequacy of the proposed funding levels and the efficiency of the fund's administration. Opponents argue that without strict oversight, increased disbursements could lead to mismanagement or inefficient use of funds. However, proponents assert that the benefits of providing adequate financial resources far outweigh the potential risks, emphasizing the importance of timely responses to environmental hazards.
Increases the net taxable estate exemption to three million six hundred thousand dollars ($3,600,000) on January 1, 2025. Also increases the exemption by one million dollars ($1,000,000) on January 1 per year thereafter.
Increases the annual appropriation for the Health Professional Loan Repayment Program from one hundred thousand dollars ($100,000) to one million dollars ($1,000,000).